Does FinQuery Do Lease Abstraction?

Yes. FinQuery, the company behind LeaseQuery, includes built-in AI that extracts data from lease documents and prepopulates the key fields, which is lease abstraction. The important qualifier is that this abstraction is bundled inside a full lease accounting platform, not offered as a standalone tool, and the platform is sold by quote through a sales-led process with no free trial on the main product. So FinQuery does abstract leases, but you get the abstraction as part of buying the accounting engine.

If your immediate need is to turn a stack of leases into clean, structured data, or to check how good AI abstraction is before you spend, it helps to separate the two jobs FinQuery combines: abstracting the leases, and accounting for them. Here is how FinQuery handles the first, and where a free abstraction step fits.

What FinQuery is

FinQuery is the parent brand for LeaseQuery, one of the more widely used lease accounting platforms in the United States, now marketed as LeaseQuery powered by FinQuery after a 2024 rebrand. It auto-generates amortization schedules, journal entries, and disclosure reports for ASC 842, GASB 87 and 96, IFRS 16, SFFAS 54, and FRS 102. The platform's core value is the accounting: taking structured lease data and turning it into compliant numbers. The abstraction feature exists to get data into that engine faster.

How FinQuery's AI abstraction works

FinQuery's built-in AI reads a lease document and automatically pulls out and prepopulates key data fields, which reduces manual keying and speeds up onboarding a portfolio. This is AI-assisted data abstraction in the same sense as any modern extraction tool: the software identifies the rent, term, dates, and options and drops them into the fields the accounting needs. Because it is embedded in the platform, the extracted data lands directly in your LeaseQuery instance rather than in a file you move around. The tradeoff is that you have to be inside the platform, and under contract, to use it.

Does FinQuery have a free trial for the abstraction?

Not on the main product. LeaseQuery is sales-led, with pricing based on lease count and no free trial, so you cannot upload a lease and watch its AI abstraction run before you buy. The one part of the FinQuery family with published tiers and a free tier is LeaseGuru powered by FinQuery, the small-portfolio product, which is free for up to two leases. For a full portfolio, though, testing the abstraction quality up front is not something the main product lets you do. If you want to understand the cost side, see how much does FinQuery cost.

Abstraction vs accounting: two different jobs

It is worth being precise about what you are actually buying. Lease abstraction is reading each lease and turning it into structured data. Lease accounting is taking that data and producing amortization schedules, journal entries, and disclosures. FinQuery does both, which is convenient if you need the accounting, but overkill if all you need right now is clean data. The difference between the two categories, and why teams sometimes want them separate, is spelled out in lease abstraction software vs lease accounting software. The short version: you cannot do the accounting well without good abstraction first, but you can do the abstraction without committing to an accounting platform.

How to test lease abstraction before committing to FinQuery

The accuracy that decides whether abstraction is any good sits on a handful of fields: the commencement and rent commencement dates, the stepped rent schedule, the CAM and recovery terms, and the option notice dates. Since you cannot run FinQuery's AI on your own lease before buying, the practical move is to test AI abstraction on a free tool, confirm those fields against the source, and use what you learn to judge any platform's claims. With LeaseAbstractors you can upload a real lease, see the abstract in minutes with a source citation on every field, and export it to Excel or CSV. If you then choose FinQuery, the clean data loads straight in; if you choose another platform, it loads there instead. For a side-by-side of FinQuery against the field, see the FinQuery alternative comparison.

What FinQuery's abstraction does not give you

Bundling abstraction into the accounting platform has a cost beyond price. Because the extraction runs inside LeaseQuery, the data lands in that system rather than in a portable file you own and can move freely, so it is harder to feed the same abstracts into a broker's model, a lender's data room, or a spreadsheet you already run. You also cannot see the abstraction work before you are a customer, which means you are trusting the accuracy on faith at the point you sign. And if you ever leave the platform, the clean, source-linked version of your data is tied up in it. A standalone abstraction step avoids all three: you own the output, you can verify it first, and you can load it anywhere. None of this makes FinQuery a poor accounting choice; it just explains why plenty of teams keep the abstraction independent of whichever accounting engine they run. For the wider set of options, the best lease abstraction software roundup compares the field.

So do you need FinQuery?

If you have to produce ASC 842 or GASB 87 schedules, journal entries, and disclosures that ultimately roll into your financial statements, you need an accounting platform, and FinQuery is a capable one. Its built-in abstraction is a genuine time-saver once you are on the platform. But if your problem today is simply that leases have to be read and turned into data you can trust, that is abstraction, and it does not require an accounting subscription to start. Do the abstraction first, verify it against the leases, and then decide which accounting system to feed. That order costs nothing to test and makes the eventual platform decision far less risky. Last updated July 2026.